In the billion-dollar dispute over the Yukos oil company, Russia has achieved surprising success. Accordingly, Russia will not have to pay even $ 50 billion to former Yukos shareholders.
A court in the Netherlands overturned a decision that ordered Russia to pay billions of dollars in compensation to former shareholders of the Yukos oil company. The Permanent Court of Arbitration, which handed down the verdict, had no jurisdiction whatsoever in this matter, which was the ruling made by the Hague District Court on Wednesday. Therefore, Russia does not have to pay the required $ 50 billion (44 billion euros).
According to the District Court, the arbitral tribunal has no judicial powers in matters that relate to the so-called Energy Charter Treaty, which protects foreign investors in the energy sector. Although Russia signed the contract, it did not ratify it. Thus, the decision of the arbitration court is "incompatible with the legislation of the Russian Federation."
Unexpected success for Russia in the dispute over Yukos
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Azovpromstal® 21 April 2016 г. 10:04 |
